Tex. Occ. Code § 1201.506

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 1201.506 - Credit

(a) A retailer or broker:

(1) shall comply with Subtitles A and B, Title 4, Finance Code, and the Truth in Lending Act (15 U.S.C. Section 1601 et seq.);

(2) may not advertise an interest rate or finance charge that is not expressed as an annual percentage rate; and

(3) shall comply with all applicable provisions of the Finance Code.

(b) A violation of this section does not create a cause of action or claim for damages for a consumer. The consumer may not recover more than the penalties provided by Subtitles A and B, Title 4, Finance Code, and the Truth in Lending Act (15 U.S.C. Section 1601 et seq.).

Tex. Occ. Code § 1201.506

Amended By Acts 2007, 80th Leg., R.S., Ch. 863, Sec. 59, eff. 1/1/2008.

Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. 6/1/2003.